Novafora completes acquisition of Transmeta

By Jennifer Chiou

New York, Jan. 28 - Novafora, Inc. announced that it wrapped its acquisition of Transmeta Corp.

Transmeta shareholders voted to approve the merger at a special meeting at 11 a.m. ET on Monday in Santa Clara, Calif.

"With the completion of our acquisition of Transmeta, we are now focusing on putting its innovative technology to work," Zaki Rakib, chief executive officer of Novafora, said in a news release.

"The addition of Transmeta's power management technology to our video processor will enable us to target Novafora's products to the broadest range of video-oriented devices."

Transmeta's board of directors unanimously approved the merger agreement and recommended that stockholders vote in favor of the deal, according to an earlier schedule 14A filed with the Securities and Exchange Commission.

In November, Transmeta announced it agreed to be acquired by Novafora for $255.6 million in cash, or $18.70 to $19.00 per share.

Santa Clara, Calif.-based Transmeta develops and licenses computing, microprocessor and semiconductor technologies and related intellectual property.

Novafora is a privately held fabless semiconductor company in San Jose, Calif., that develops digital video processors.

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